ABSTRACT
This study is designed to provide knowledge to a layman on the problem encountered by external auditors in auditing Nigeria companies. An external auditor is a qualified professional accountant that is engaged in an organization to examine, review companies business activities and reconcile them the study attend to determine all this problems encountered by external auditors in auditing Nigeria companies which includes not having a standard internal control system, lack of proper recording of financial transaction and lack of proper account keeping of business activities in the companies, in the study therefore the following means were used in collecting data and administration of this research work which include primary data through all interview and design questionnaire while secondary data was through Journals, textbooks etc. some of the major findings of the research work are that company balance sheet is published for public consumption indicating mostly the unqualified report that has been issued by the companies. Again daily reconciliation of the accounting balance are followed to ensure that arithmetical accuracy of the ledger is recorded. Internal auditor should be encouraged in Nigeria companies for effectiveness of auditors work and also external auditors should be engaged from time to time to check the companies performances
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Auditing has been a very important aspect of the accounting profession since the statement of business activities from a sole proprietorship to large public enterprises. Experts rank, if the number one instrument of financial reporting. It forms the bedrock of placing reliance on the report presented by the stewards of companies on the state of affairs of the companies.
Many groups are interested to be assured of their interests being protected in the business organizations. The owners of the business (shareholders) having been concern to be guaranteed the management is performing its duties effectively and efficiently. Their ultimate aim is to receive as much returns as possible from the capital they invested in the business.
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